EURAUD has Formed strong bearish pin bar and taken resistance from trend line too. Entry can be taken after a small correction which price can take from 200 EMA.Overall Trend is down so more downside can be seen this week in this pair.
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ALERT SIGNAL FOR POSITIONAL
TRADE ALERT SIGNAL
DATE -14/10/2018
SELL ENTRY 1 - 1.63007
SELL ENTRY 2 - 1.63534
STOPLOSS- 1.64121
TARGET 1 - 1.62456
TARGET 2 - 1.61888
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HOW WEEKLEY WIT SIGNAL IS VALID
FOR DAILY INCOME TRADER(DIT)
1,IT IS VALID UPTO 24 HOURS,ONCE IT HITS...
The 4 Hour chart of EUR/AUD has formed the Full Elliot wave pattern
It is currently making 'c' corrective downside moves with the running flag formation of further upside forecast bias after the corrective moves.
The 4 Hour chart of EUR/AUD has formed the full Elliot wave pattern
After completed impulse moves, currently it is in the making of c correction wave
so,It is expected to be bearish and would reach the expected target.
The EUR/AUD pair is currently in an uptrend in the daily timeframe.
It is currently at the 1.618 fibonacci extension of its rally initiation point, which can act as a strong resistance.
If the resistance holds, we can expect a good retracement move due to profit booking.
If the resistance is broken then a good accelerated bullish move can be witnessed.
This morning the cross fails to breach the March high 1.6190, Asian session high was 1.6169. Looking at the more top time frames between 1.6190-1.6250 the cross will face immense selling pressure. The 100.0fe is pointing to 1.6190 coincides with the March high.
The 4 hour chart of EUR/AUD has formed a deep crab pattern along with MACD histogram divergence formed.
So, It is expected to be bearish and would reach the target.
